Agree with Ed054, there will always to be unscrupulous people in any profession.
The point of loss adjustors who act on behalf of the insurance company is to get the claim as low as possible because the insurance company wants to pay out as little as possible, the loss assessor wants to reinstate the owner and get the right amount of money which will do this.
Some people are well able to manage their own claims and can readily assess the damage themselves, other's can't and some claims are complex and need expert help.
What are the qualifications for a Loss assessor.
The role of Loss Adjusters is not to get the claim as low as possible. Yes, they are under increasing pressure to obtain reasonable settlements. However, a Chartered Loss Adjuster will not and should not recommend less than the policyholder is entitled to under the policy.
Some people do need expert help in compiling a claim under the policy...sadly, again in my considerable experience, few Loss Assessors possess this expert ability.
However, In most cases, a competent builder will serve a policyholder better than a Loss Assessor.
All loss assessing companies are regulated as are loss adjusting companied by the same regulator.
Would they have been better off getting a loss assessor involved??
The loss assessor's Fee (approx 10-15%) comes out of the settlement so unless they work for free they will never put the policy holder in a reinstate positionthe loss assessor wants to reinstate the owner and get the right amount of money which will do this
Loss Adjusters are not regulated as they do not work for consumers. They work directly for insurance companies and fall under the regulation of the insurance company.
No. Loss assessors add to the length of time it takes to settle a claim and they also have no direct link into repairs therefore from an insurance companies position they generally dont have a positive role in the process.
The loss assessor's Fee (approx 10-15%) comes out of the settlement so unless they work for free they will never put the policy holder in a reinstate position
OK so they are not regulated or they are regulated by the companies that pay there wages = complete conflict of interest.
you might want to check your FACTS; or are you a centralised invoice system for all loss assessors?No loss assessor charges over 10% FACT
are you not showing exactly the same bias in the opposite direction? You might want to also read the original posters point which is what we are discussing.kkelliher your clear bias for insurance companies POV and not the insureds POV is very clear. Impartiality is what's needed here not biased generalisations.
the regulation was introduced to protect consumers against people that they engage. They do not engage a loss adjuster and that is the reason behind the regulation of loss adjusters within the insurance company structure given that they are working under the authorisation of the insurance company
you might want to check your FACTS; or are you a centralised invoice system for all loss assessors?
are you not showing exactly the same bias in the opposite direction? You might want to also read the original posters point which is what we are discussing.
they are working under the authorisation of the insurance company
are you not showing exactly the same bias in the opposite direction? You might want to also read the original posters point which is what we are discussing.
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